Archive for June, 2009
Friday, June 19th, 2009
Cooperative Bank, Wilmington, NC has become FDIC hit number 39.
Bank regulators seized Cooperative Bank of Wilmington, North Carolina on Friday, the 39th U.S. bank to fail this year as the recession and delinquent loans erode the health of financial institutions.
The Federal Deposit Insurance Corp said Cooperative Bank had $970 million ...
Posted in FDIC FAILED BANKS | No Comments »
Friday, June 19th, 2009
The FDIC busies itself for another weekend by closing down Southern Community Bank, Fayetteville, GA.
Bank failures in Georgia and North Carolina have brought the number of failures in 2009 to 39, according to the Federal Deposit Insurance Corp. late Friday. Southern Community Bank of Fayetteville, Ga., was the year's seventh ...
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Wednesday, June 17th, 2009
As the inflation-deflation debate rages, I have noticed several different definitions of inflation at play. Lacking disclosure as to who is using which, you can prove almost anything you want. Case in point: Mish uses a definition that rests on what the big shots are doing in the credit markets:
Inflation ...
Posted in BREAKING NEWS! | No Comments »
Tuesday, June 16th, 2009
Keynesian economics was developed to provide academic cover to a theory so blatantly flawed as to render it defenseless under any ordinary attack of sound logic. But surrounded since it's inception by layers of PhD s and volumes of Fed speak, until recently no one dare see through the emperors ...
Posted in Bank Bailout Count, BREAKING NEWS!, CENTRAL BANKERS | No Comments »
Thursday, June 11th, 2009
Montgomery, Alabama, based Colonial Bank has been slapped with an FDIC cease-and-desist order. The bank also caught the ire of the State of Alabama Banking Department, which ordered it to improve its capital ratio. The regulatory action complicates merger deals already in the pipeline.
Taylor, Bean & Whitaker's deal with Colonial may ...
Posted in FDIC CEASE AND DESIST | No Comments »
Wednesday, June 10th, 2009
The problem with listening to mainstay economic blogger "Mike Mish Shedlock" make his deflation argument isn't that he doesn't know what he's talking about -- it's that you don't. To most of us "Joe six packs," inflation means a six pack costs more and deflation means it costs less, we ...
Posted in BREAKING NEWS! | No Comments »
Friday, June 5th, 2009
The FDIC has made hit number 37 of 2009, shuting down Bank of Lincolnwood, Lincolnwood, IL.
Bank of Lincolnwood in Lincolnwood, Ill. became the 37th bank of the year to fail and the sixth Illinois bank failure in 2009, according to Federal Deposit Insurance Corp. Friday. Republic Bank of Chicago in ...
Posted in FDIC FAILED BANKS | 1 Comment »
Wednesday, June 3rd, 2009
On the face of it, you might be persuaded that Ron Paul had finally sunk some sense into Ben Bernanke, as the Fed's chief speaker said today that the United States needs to develop a plan to restore fiscal balance. I actually believe Bernanke was sincere when he said "plan to restore fiscal ...
Posted in BREAKING NEWS!, CENTRAL BANKERS | No Comments »
Wednesday, June 3rd, 2009
No truer testament to the power of creating money out of thin air exists than the way that sanction, single and singular, has taken the classes of the inept and clueless and transformed them into rulers of us all. Presently, on the cusp of economic collapse, the parasitic elite reach ...
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